Gold and Silver Rise Ahead of Fed Meeting, Up for Second Session

Gold for February delivery gained $9.80, or 0.8%, to settle at $1,244.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold ranged from a low of $1,227.20 to a high of $1,251.70. In thinner trade, prices climbed as focus turns to the upcoming FOMC meeting.

"Should tapering not be announced at the December meeting, given the elevated speculative positioning to the short side, there is scope for a short-covering rally," Reuters quoted Suki Cooper, precious metals analyst at Barclays Capital.

US Mint Bullion Sales in December

Sales totals for United States Mint bullion coins were unchanged Monday as of 4:33 p.m. ET. Listed below are U.S. Mint bullion sales for the month through Dec. 16 and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)

Monday / Week-To-Date Sales

Last Week

December Sales

YTD Sales

$50 American Eagle Gold Bullion Coins

0

11,000

30,000

720,000

$25 American Eagle Gold Bullion Coins

0

0

0

58,000

$10 American Eagle Gold Bullion Coins

0

4,000

4,000

122,000

$5 American Eagle Gold Bullion Coins

0

0

15,000

535,000

$50 American Buffalo Gold Bullion Coins

0

4,000

5,500

237,500

White Mountain 5 oz. Silver Bullion Coins

Sold Out

35,000

Perry’s Victory 5 oz. Silver Bullion Coins*

0

2,900

2,900

30,000

Great Basin 5 oz. Silver Bullion Coins*

0

1,400

1,400

30,000

Fort McHenry 5 oz. Silver Bullion Coins

Sold Out

30,000

Mount Rushmore 5 oz. Silver Bullion Coins

Sold Out

35,000

American Eagle Silver Bullion Coins

0

800,000

1,200,000

42,675,000

*Perry’s Victory and Great Basin silver bullion coins sold out on Tuesday, Dec. 10. The U.S. Mint will not have America the Beautiful Five Ounce Silver Bullion Coins to sell until the first 2014-dated strike is released in late January.